Ask any Turk for good reasons why you should buy property in Kusadasi, and they will probably say, its cruise ship kingdom status should be top of the list. Every year, some of the world’s giant cruise liners dock in so passengers can explore the famous UNESCO World Heritage site of Ephesus, that is also Turkey’s top-rated tourist attraction.
As a popular location for cruise ships fans, the town generates a sizeable income from this trade, yet it is about so much more than that.
For many decades, Kusadasi maintained a low-key reputation within the real estate market of Turkey. Often overlooked by other Aegean coastal resorts like Bodrum and Altinkum, the town lacked enthusiasm and seemed content to tick over from day to day, probably stemming from overconfidence of its booming cruise ship trade.
Times have changed though, and a series of infrastructure projects, as well as modernisation of its real estate market, means Kusadasi is now emerging as a force to be reckoned with when it comes to attracting property buyers in Turkey.
Kusadasi, on the Aegean coast of Turkey, is a busy all year-round destination but really livens up from May to October when Turkey’s tourism season starts. In the past, Irish holidaymakers made up a large part of tourist demographics to Kusadasi, but in recent years, it has diversed to become a multi-cultural hub.
Easily accessed by Bodrum airport, 2 hours away or Izmir airport that is just 1 hours transfer drive, Kusadasi also has a large bus station connecting it with the rest of Turkey.
Its name means bird island, a reference to its most famous landmark sitting just off the coastline. However, it has plenty of other famous landmarks that easily lure foreign and Turkish tourists.
They include the ancient stone wall caravansary used by traders on the old Silk Road and the stunning green landscapes of Dilek National Park where wild boar roam, and flora and fauna thrive. Foreign nationalities and Turks either buy property in Kusadasi to use as a holiday home or for permanent living. Out of the international buyers, a sizeable expat community has grown, hence English and other languages are widely spoken.
Naturally, like every other coastal destination in Turkey, daily life revolves around the central seafront and promenade. The fish market and surrounding restaurants are go-to points to feast on fresh seafood and fish, while younger generations hang out in third wave coffee shops lining Guvercinada Caddesi, the main street running parallel to the coastline.
The cruise ship port, renovated and modernised in 2006 is another trendy place to shop in brand name stores, while morning times are a hive of activity around the old harbour leading to Pigeon Island as holidaymakers’ board boats for day trips around the coastline.
Along with tourism, one of Kusadasi’s strong points is its diverse nightlife scene. Restaurants niches range from alfresco dining style for romantic couples and large groups of friends to selling every type of international cuisine you can think of. Of course, hard-core partygoers, especially tourists often end up in Bar street to finish the night off and party into the early hours of the morning.
With a wide range of leisure pursuits as well as shopping and nightlife choices, Kusadasi certainly delivers diversity whether you are living on a budget or looking for the more luxurious side of life. Indeed, anyone looking at investing in Turkish real estate would do well to look at the region and for many reasons.
Excellent Reasons to Buy Property in Kusadasi
1: Revival of its Real Estate Market
Roughly 15 years ago, Turkey’s real estate market kicked into action as the sudden mass availability of affordable mortgages fuelled demand for modern, new housing. Every place embraced the new urban revival apart from Kusadasi.
Ugly high-rise apartment buildings dominated the skyline, and availability as well as turn over, was slow. However, despite being late to the party, Kusadasi is now ramping ahead in full gear as new budget and luxury apartments and villas dominate its portfolio and give buyers plenty of choices.
2: Capital Growth Potential
Kusadasi’s late efforts to modernise its real estate market works in buyers’ favour because prices are still low when compared to other more advanced regions of Turkey. Turkey’s real estate market is also in its infancy days, and any buyer comparing property in Spain against Turkey will see a notable difference in what you can get for your cash. Overall, real estate in Kusadasi offers mass potential for anyone looking for a long-term real estate investment.
3: Cash in on a Favourable Exchange Rate
All property in Turkey is sold in Turkish lira. So, the extremely favourable exchange rate at the moment means that when converted into pounds, buyers are tapping into some lucrative bargains. Anyone looking at property for sale in Kusadasi can buy a brand new apartment with all modern cons and features from £60,000 onwards.
However, if you want a larger more family friendly villa with features like swimming pools and landscaped gardens, these start in price from roughly £100,000. To ensure you get the best deal on exchange rates, use a specialist foreign exchange currency company, rather than banks.
4: Pay in Cryptocurrency
Kusadasi is full steam ahead on embracing everything new and modern, and this includes cryptocurrency. Turks are just one nationality that believes in its purchasing power, hence the recent Blockchain and Bitcoin conference that took place in Istanbul.
Sellers are standing up and taking notice of its popularity and certain construction firms selling new and key ready properties are now accepting payment in Bitcoin, Ripple and Ethereum. The agreed selling price is fixed due to exchange rates at the time of purchase.
5: Buy-to-let Potential
Kusadasi is an all-rounder when it comes to the tourism market, and independent travellers love it because of its close location to tourist hotspots like Ephesus and the Virgin Mary’s house. Two of Turkey’s largest and best waterparks also make it a family-friendly destination and the vast diversity and choice of sandy havens and coves appeals to beach lovers. There is potential for buy-to-let property owners as well as holiday home owners who want to recoup running costs.
6: Streamlined Purchasing Process
When it comes to cutting out red tape and bureaucracy, Turkey has one of the most straightforward house buying processes in the world and along with this streamlined system comes low costs including solicitors, taxes, notary and utility transfer fees averaging between 5% of the purchase price.
Payments for property, typically done in four stages are subject to agreement between the buyer and seller, while off plan property in Kusadasi offers longer duration on payment time. Combined with the favourable exchange rate as well as the choice to buy in cryptocurrency, buyers are in an extremely lucrative position.
7: Selling Potential
Clued up real estate buyers are always interested in liquidity potential, i.e. how fast and easy can we convert a property investment into cash, should the time come. Along with other areas in Turkey, Kusadasi offers good liquidity in that increasingly more Turks along with foreigners are also looking to get on the housing market.
The constant market turnover shows resale properties are just as popular as off plan and new, and foreign nationalities showing much interest in the Turkish real estate market include Brits, Middle Eastern, Russian and Europeans buyers. Combine these with Turks, and an ever-growing population to reveal that properties for sale have a global audience.
8: Residential Neighbourhoods and Cul-De-Sacs
The Kusadasi province separates into smaller neighbourhoods, all with their own characteristics and plus points. Naturally Ladies beach, as it suggests counts the long stretch of sand as its main selling point, while the town centre is brimming with shops, restaurants and bars that form the main bulk of Kusadasi nightlife.
Heading out into the outskirts districts, Davutlar, a seaside resort popular with retiring Turks still displays the good old-fashioned charm of Turkey, that foreign buyers often look for. Meanwhile, buyers of property in Kusadasi who need to stick to a budget on a budget will like the Ege, Degirmendere and Ilkicesmelik neighbourhoods. Despite growing in recent years, they still offer some of the lowest property prices in resort.
With thanks to Julian Walker from Spot Blue International Property Ltd